Offshore company

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Offshore company BPI Finance

Classic offshore jurisdictions have been widely used for many years in tax planning due to the tax preferential regime they offer to companies registered therein. Main differences between offshore companies and onshore structures are as follows: 

  • exemption from taxes, provided that the activity is conducted outside the country; 
  • in most jurisdictions, there are no requirements on preparation of financial statements, and VAT registration; 
  • in most jurisdictions, the appointment of a registered agent or Company’s secretary. 

Although there are no requirements obliging the companies to prepare and file the financial statements, we strongly recommend that you keep accounting records, commercial contracts, invoices and other documents. This is necessary to be able to prepare a financial statement upon request of the Bank, business partner, etc. 

Offshore company ‐ Belize

Belize

CIT 0% if profit is generated outside the country

Offshore company ‐ BVI (British Virgin Islands)

BVI (British Virgin Islands)

CIT 0% for all legal entities registered in the BVI.

Offshore company ‐ Seychelles

Seychelles

CIT 0% if the activity is conducted outside the country.

Offshore company ‐ Panama

Panama

CIT 0% if the activity is conducted outside the country.

Offshore company ‐ Marshall islands

Marshall islands

CIT 0% if the activity is conducted outside the country.

Offshore company ‐ Saint lucia

Saint lucia

CIT 0% if profits are made outside the country

Offshore company ‐ Saint kitts and nevis

Saint kitts and nevis

CIT 0% if the activity is conducted outside the country.

Offshore company ‐ Hong kong

Hong kong

CIT 0% if income is received outside the country.

Offshore company ‐ Singapore

Singapore

Corporate income tax is not payable if the business is conducted outside Singapore, and no income remitted to Singapore.

Offshore company ‐ Great britain

Great britain

LLP is taxed at partners level when profit is distributed. With proper structuring, taxation can be reduced to 0%

Offshore company ‐ Scotland

Scotland

LP is taxed at partners level when profit is distributed. With proper structuring, taxation can be reduced to 0%

Offshore company ‐ Ireland

Ireland

LP is taxed at partners level when profit is distributed. With proper structuring, taxation can be reduced to 0%

Offshore company ‐ Canada

Canada

LP is taxed at partners level when profit is distributed. With proper structuring, taxation can be reduced to 0%

Offshore company ‐ USA

USA

CIT 0% if the activity is conducted outside the country.

Offshore company ‐ Bahamas

Bahamas

No corporate tax

Offshore company ‐ Curacao

Curacao

Subject to correct structuring, taxation can be reduced.